Fundera

SEPTEMBER 2, 2017

As a small business owner, you probably don’t have a lot of time. But it’s important to carve out a bit of time to network, especially with other small businesses. You’re probably thinking, “But time is money,” and you’re right. If done correctly, this small investment of time could be worth a lot of money. Networking is a great way to generate business leads, whether it’s a new partner for a future project or a new customer.

Small Businesses 111

Small Businesses Nonprofit Organizations 111

Abrigo

SEPTEMBER 6, 2017

By John F. Dini, CMBA, CExP Financial buyers, Private Equity Groups and Family Offices, acquire companies based on their Return on Investment (ROI). When the owner of a mid-market company receives an offer from a financial buyer, he or she logically expects detailed due diligence on the business’ assets and income. Once they have proven the numbers shown on the balance sheet and income statement, most owners expect the transaction to proceed.

Deductions 79

Deductions Transactions 79

GoCardless

SEPTEMBER 3, 2017

Hear from accountancy firm Kinder Pocock on how they are tapping into the potential of apps in cloud accounting software to deliver value for their practice and their clients.

Accounting Firms 52

Accounting Firms 52

Fundera

SEPTEMBER 27, 2017

Getting the word out about your business is one way to make sure it succeeds. Indeed, many aspects of your business may depend on it. Overall, “marketing” can mean many different things: from advertising and public relations to promotions and sales. In other words, marketing is a process in which your business is introduced and promoted to potential customers.

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111

Fundera

SEPTEMBER 20, 2017

We’re thinking of a number between 300 and 850… and it’s your credit score. Do you know what it is? And most importantly, is it where you want it to be? Unless you have an absolutely perfect credit score—850—we’re willing to bet that you’d like to tack on a few points to that three-digit number. Building credit fast is no easy task. Your credit rating is with you for the long-haul and is built up over years and years of credit history—so it won’t just change overnight.

Credit Scoring 98

Credit Scoring Credit Reporting Agencies Credit and Collections Bankruptcy 98

Fundera

SEPTEMBER 6, 2017

Have you ever found yourself sitting at your desk on the first nice weekend of spring, facing a huge pile of receipts and bank statements? If you’re like many small business owners, you have rushed to create your bookkeeping file for the previous year just a few weeks before the spring tax-filing deadline at least once since starting your business. And, like most who have found themselves in this position, you probably swore to never let this happen again.

Small Businesses 94

Small Businesses Transactions 94

Fundera

SEPTEMBER 24, 2017

If you’re a whiz in the kitchen who’s been complimented thousands of times about your cooking, you’ve probably toyed around with the idea of opening a restaurant. You think, “I can cook, my food is delicious, so a restaurant would be a no-brainer.” You conduct research only to find out that the restaurant business is notorious for failure. Some statistics put the food service business failure rates as high as 60% within the first year.

Credit Application 92

Credit Application Small Businesses 92

Fundera

SEPTEMBER 11, 2017

Long after felons have paid their debt to society, most of them face challenges generating a steady income. A study by the Bureau of Justice a few years ago reported just 12.5% of employers are willing to consider job applications from people who have been convicted of a crime. Further adding to the challenge is the limitations of where they can actually work.

Medical Billing 92

Medical Billing Small Businesses 92

Fundera

SEPTEMBER 1, 2017

850. Three little digits. One big number. What’s the deal with 850? Well, if you’re a credit score aficionado like we are, you’ll recognize 850 as the absolute perfect credit score. Once you’ve hit it, there’s just no higher to go—you’ve made it. And it’s an especially important figure for small business owners on the prowl for business financing. Out of all your financial numbers, documents, and sheets, your credit score might just be one of the most important attributes out there.

Credit Scoring 92

Credit Scoring Bankruptcy Credit and Collections Default 92

Fundera

SEPTEMBER 4, 2017

QuickBooks Online (QBO) is not only an awesome tool—it’s an essential one for any small business owner looking to rely on an accounting software to keep their books in order. QBO is a fairly intuitive platform, and Intuit makes more updates every year to keep the platform super user-friendly. Below, I’ve made a list of some of my favorite most recent QBO updates.

Transactions 91

Transactions Default Small Businesses 91

Fundera

SEPTEMBER 16, 2017

Over the last several years, the explosive growth of the online alternative lending industry has made it easier than ever for small business owners to access the funds they need to make their business goals a reality. Unfortunately, though, legitimate and trustworthy online lenders like OnDeck , LendingClub , and Kabbage among others aren’t the only ones using the internet to expand their reach.

Bankruptcy 89

Bankruptcy Small Businesses Credit Scoring 89

Abrigo

SEPTEMBER 14, 2017

By Richard Greene, Clarus Advisors Cash flow is the life’s blood of a business. This is true for the small business and the Fortune 50. Understanding, tracking and controlling your company’s cash inflows and outflows is paramount to running a healthy company. To illustrate the impact collections has on your cash flow , consider this example: daily sales are $10,000 and Accounts Receivable sits at 42 days.

Credit and Collections 76

Credit and Collections Small Businesses 76

Fundera

SEPTEMBER 15, 2017

The Story of The Waxwing from Blackbox Visual on Vimeo. Steph Davies wears many hats : She’s a freelance illustrator, a new mom, and a small business owner. She’s also an advocate for other artists and creative entrepreneurs in her community, helping them build word-of-mouth and attract more business via her shop, The Waxwing. The Waxwing is an artists’ consignment shop based in Milwaukee, Wisconsin.

Small Businesses 85

Small Businesses 85

Fundera

SEPTEMBER 14, 2017

Chances are, you’ve heard or read something about the recent cyberattack on the systems of Equifax, one of the three largest credit reporting bureaus in the country, where crucial identification information of about 143 million U.S. customers was compromised. Equifax released a statement that the cyberattack made vulnerable names, Social Security numbers, birthdates, address, and driver’s license numbers of the credit bureau’s customers, as well as the credit card numbers of around 209,000 consu

Credit Scoring 84

Credit Scoring Small Businesses 84

Fundera

SEPTEMBER 23, 2017

Everyone has come to accept that taxes are a fact of life. But how often do we stop and take a look at what these taxes really are? While business and income taxes make the headlines, few of us actually know what payroll taxes are and how they work. This isn’t a personal fault—we’re all busy. As long as the check clears, we’re happy. We all do it. We read the total paid without taking a careful look at the deposits (amounts put in) and withholdings (amounts taken out).

Small Businesses 80

Small Businesses Credit and Collections Deductions 80

Fundera

SEPTEMBER 12, 2017

Remember high school math, when you had to memorize dozens of formulas in order to pass the final exam? As an adult, you might have been surprised to discover you actually use some of those formulas in your real life. Most of them, though, have no practical use outside of math class. Fortunately, the most important accounting formulas are both practical and intuitive, making them easy to remember and apply in your business.

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78

Abrigo

SEPTEMBER 22, 2017

When a lending institution establishes its risk rating system it has to decide whether it will require analysts to risk rate the borrower or the loan -- or both. Said another way, it has to decide between a single or dual rating system. There are benefits to each. On one hand, a single rating system is simple. On the other, the dual rating system allows for more distinction in risk grades, which could be beneficial to the institution.The answer to the question as to which is better for a lending

Default 68

Default Credit Risk 68

Abrigo

SEPTEMBER 20, 2017

Beauty is in the eye of the beholder, as the saying goes, and so apparently is “reasonable compensation” for a business owner. Many variables can make providing a defensible, rational estimate of reasonable compensation extremely challenging when a valuation analyst is conducting a business valuation , according to Kevin Yeanoplos, CPA/ABV/CFF, ASA, Director of Valuation Services at Brueggeman and Johnson Yeanoplos , P.C.

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68

Fundera

SEPTEMBER 29, 2017

When you become a business owner, you quickly realize that it isn’t just about your personal credit score anymore. Yes, your personal credit score still plays a (surprisingly) important role in your business’s life, but now you have another financial indicator to pay attention to: your business credit score. Just as you monitor your personal credit score by reviewing your credit reports periodically, it’s important to keep up to date on your business’s credit score by regularly reviewing its cre

Credit Reporting Agencies 76

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 76

Fundera

SEPTEMBER 28, 2017

Thinking about expanding your business? It’s common for business owners to get the itch for growth, but how do they do it? Unfortunately, it often takes money to make money, so you’ll likely need financing to give you that extra push to make the expansion happen. Why Expand? Some reasons people choose to expand their business are staff shortages, inventory gaps, unfilled orders, untapped markets, edging out the competition, or changes in the respective industry.

Invoice Amount 76

Invoice Amount Deductions Small Businesses Default 76

Fundera

SEPTEMBER 3, 2017

The idea of sitting back and not doing much of anything while you earn money is kind of the definition of living the dream, right? That’s passive income, something that earns you money without necessitating active (or at least sustained) involvement. And as impossible as it might sound—it isn’t. There are indeed ways that people can make passive income for a nice monthly cushion.

Small Businesses 75

Small Businesses 75

Fundera

SEPTEMBER 15, 2017

In the past few years, Chase has really stepped up their travel credit card game. Whether it’s with the consumer Chase Sapphire Reserve, which earned a place on the cover of Bloomberg Businessweek, or with the business Ink Preferred, which is one of the best credit cards out there for travel signup bonuses, Chase has won their way into our hearts. Here are four ways that Chase’s cards have changed the game for business travelers. 1.

Transactions 75

Transactions 75

Fundera

SEPTEMBER 26, 2017

Running a business with your spouse: It’s a dream come true! You get to spend every day with your favorite person, you’re pursuing your goals together, and you’re creating financial independence for your family. It won’t be long until you’re sitting atop an empire and hobnobbing with Oprah and Mark Zuckerberg. Running a business with your spouse: It’s a living nightmare.

Bankruptcy 75

Bankruptcy 75

Fundera

SEPTEMBER 16, 2017

Three little digits. A simple, seemingly arbitrary number on a page. It’s hard to imagine that a single number—any number—could have such a big impact on your life choices or opportunities. But when those three digits represent your personal credit score , they can indeed have a dramatic impact on your future choices. Can you buy a house or a car? Can you rent an apartment?

Credit Scoring 73

Credit Scoring Credit Reporting Agencies Credit and Collections Default 73

Fundera

SEPTEMBER 17, 2017

In a perfect world, you’d have an unlimited budget when launching your e-commerce store. You could start out with the best tools, from the highest quality providers, with no regard for their impact on your bank account. Of course, most of us aren’t that lucky. Rather than being able to splurge on everything that catches our eye, we have to be judicious about where and how we invest our budget.

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Fundera

SEPTEMBER 1, 2017

While there’s some debate in American politics over whether or not “corporations are people,” it is true that businesses have credit scores and can receive credit reports the same way individuals do. And much like how people and their lenders can check those scores at any time, small business owners can check the credit score of their company to see its strength—and whether they’ll be eligible for trade credit, business financing , and other financial opportunities.

Credit Scoring 70

Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 70

Abrigo

SEPTEMBER 29, 2017

Imagine the following scenario. An analyst is preparing a risk rating as part of an account’s annual review. She has spread the most recent financial data and updated answers to qualitative questions in the scorecard. She knows this credit well because she has managed it for two years and talks to the CFO regularly. When the risk rating is calculated, however, the scorecard result does not match what she was expecting.

Credit Risk 60

Credit Risk 60

Abrigo

SEPTEMBER 27, 2017

The hundreds of people attending the 2017 Risk Management Summit hosted by Sageworks heard from dozens of thought leaders in the financial services industry. As a result, bank and credit union leaders came away from Denver and the three-day summit, which ended Wednesday, with a wealth of advice. They learned how to prepare for the current expected credit loss model (CECL) and leverage the change to better manage the business, and they found out about new perspectives for improving lending proces

CECL 60

CECL Credit Unions 60

Abrigo

SEPTEMBER 26, 2017

Banks have a wealth of information available to them, and if they use the right tools to dissect that information, they can make major process changes that improve what matters most to customers – both customers of today and tomorrow. For example, according to a recent poll during the Sageworks Risk Management Summit, 39 percent of bankers say it typically takes their financial institutions from three to six weeks to close a new commercial loan, and another 36 percent said it takes more than six

Small Businesses 60

Small Businesses Credit Unions 60

Abrigo

SEPTEMBER 26, 2017

A major concern surrounding technology expenditures is whether the investments will generate a return for the accounting practice. Indeed, it is this worry that keeps partners and some firms stuck using outdated solutions when they could make their work easier and grow the practice with new, differentiated services. However, identifying the return on investment begins with ascertaining which everyday challenges can be addressed with technology.

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